The number of vacancies in Germany has reached a new high: According to a survey by the Institute for Employment Research (IAB), 1.98 million jobs were advertised nationwide in the fourth quarter of 2022. The record from the second quarter was thus surpassed once again.

Compared to the previous quarter, the number of vacancies rose by around 161,000 or 8.8 percent. The increase in the fourth quarter of 2021 is even clearer, when the corona pandemic was still paralyzing the economy. In this comparison, the number of vacancies increased by 295,500 or 17.5 percent.

The figures come from the IAB job survey. The research facility of the Federal Employment Agency, based in Nuremberg, surveys companies about their job offers every quarter.

“The need for personnel in Germany has reached a new all-time high with around 2 million vacancies. The vast majority of vacancies can be filled immediately and the competitive pressure in companies for suitable personnel is often high,” said IAB labor market researcher Alexander Kubis.

According to the IAB statistics, around 82 percent of the almost 1.98 million vacancies were immediately vacant. In 352,000 cases, the employers wanted to start at a later point in time. At 83 percent, the desire to hire new employees immediately is somewhat more pronounced in western Germany than in eastern Germany (80 percent).

The so-called vacancy rate has also reached a new high. It shows the ratio of vacancies to be filled immediately and the total operational demand for personnel, i.e. employees subject to social security contributions. In the fourth quarter of 2022, there will be 4.5 vacancies for every 100 employees required by companies. In the third quarter there were still 4.0 vacancies, in the fourth quarter of the previous year also 4.0. “The high need for personnel is clearly reflected in the information provided by many companies,” says Kubis.

With the IAB job survey, the IAB examines the entire job offer, including those jobs that are not reported to the employment agencies. In the fourth quarter of 2022, answers were available from around 14,000 employers from all economic sectors.

“Everything on shares” is the daily stock exchange shot from the WELT business editorial team. Every morning from 7 a.m. with our financial journalists. For stock market experts and beginners. Subscribe to the podcast on Spotify, Apple Podcast, Amazon Music and Deezer. Or directly via RSS feed.